Fresh Promise Foods Announces Another Milestone
Henderson, Nevada--(Newsfile Corp. - December 15, 2020) - Fresh Promise Foods, Inc., (hereinafter "FPFI") a publicly traded company under the ticker symbol (OTC Pink: FPFI) announced today that Company has taken another major step toward its stated goals as referenced in its July 20, 2020 Press release, "Fresh Promise Foods is heading in a new strategic direction", by divesting Giddy Up Energy Products, Inc.
Fresh Promise Foods acquired the Giddy Up Energy Products, Inc. the owner of the Giddy brand of energy products, in 2017. However, after an extensive internal review and subsequent discussions with the company's CEO, Mr. James Robinson, over the past several years, it became apparent that the Company agreed to amicably divest Giddy Up from Fresh Promise Foods allowing Mr. Robinson to re-purchase the business to pursue other opportunities to execute his vision. The Company and Mr. Robinson recently negotiated and executed a settlement agreement which was announced and detailed in an 8-K which was filed on Friday, Dec. 11, 2020.
With the execution of this agreement, the Company wanted to clarify that all of the shareholders who received the 1:1 dividend distributed in the original acquisition transaction will keep the share of FPFI they received as a result of the transaction and the Company intends to include these shares in its planned upcoming registration statement with the Securities and Exchange Commission.
Although the Company is heading in a new direction with its recent acquisition of Human Brands International, Inc., it has agreed to maintain a relationship with Giddy Up through its new wholly owned subsidiary, by agreeing to enter into a licensing agreement to develop products in the adult beverage sector, with an initial focus on the hard seltzer market.
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About FPFI: Fresh Promise Foods, Inc is a holding company that focuses on acquisition opportunities in the multi-trillion-dollar spirit/adult beverage sector and related industries. FPFI primarily targets companies, and/or exclusive production and supply agreements in the Tequila industry. FPFI will also seek opportunities involving uniquely positioned, specialized retail/hospitality locations and brands that will be supported by our underlying business activities.
About Human Brands:
Human Brands International, Inc. (www.humanbrandsinc.com) is a diversified holding company in the spirit and hospitality sectors with a primary focus on the tequila industry. The Company was established in late 2014 to capitalize on the growing alcohol beverage market and changing consumer habits in the
industry. The Company currently has several wholly owned subsidiaries that focus on five key areas of business: Agave, Bulk Tequila Production, Brand Development, Import/Export and Hospitality.
Forward-Looking Statements: Certain statements in this news release may contain forward-looking information within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934 and are subject to the safe harbor created by those rules. All statements, other than statements of fact, included in this release, including, without limitation, statements regarding potential future plans and objectives of the company, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Technical complications, which may arise, could prevent the prompt implementation of any strategically significant plan(s) outlined above.
Contact: Joe Poe Jr.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/70336